QuickLogic (QUIK) Receives Buy Rating from Roth Capital

QuickLogic (NASDAQ:QUIK)‘s stock had its “buy” rating restated by research analysts at Roth Capital in a research report issued on Friday. They currently have a $2.50 price target on the semiconductor company’s stock, up from their prior price target of $2.00. Roth Capital’s target price would indicate a potential upside of 25.63% from the stock’s previous close.

Separately, Zacks Investment Research raised QuickLogic from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th.

Shares of QuickLogic (NASDAQ:QUIK) traded up $0.21 on Friday, reaching $1.99. The company had a trading volume of 1,348,800 shares, compared to its average volume of 317,508. QuickLogic has a 52 week low of $1.15 and a 52 week high of $2.48. The stock has a market cap of $142.72, a price-to-earnings ratio of -10.47 and a beta of -0.16. The company has a current ratio of 2.61, a quick ratio of 2.27 and a debt-to-equity ratio of 0.01.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). QuickLogic had a negative return on equity of 76.28% and a negative net margin of 120.37%. The company had revenue of $2.97 million during the quarter, compared to analyst estimates of $3.02 million. During the same quarter last year, the firm posted ($0.06) EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. sell-side analysts predict that QuickLogic will post -0.17 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in QuickLogic by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,489 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 7,624 shares in the last quarter. Northern Trust Corp grew its holdings in QuickLogic by 20.1% during the 2nd quarter. Northern Trust Corp now owns 159,105 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 26,599 shares in the last quarter. Vanguard Group Inc. grew its holdings in QuickLogic by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,489,572 shares of the semiconductor company’s stock valued at $5,095,000 after buying an additional 106,434 shares in the last quarter. Finally, Adirondack Research & Management Inc. grew its holdings in QuickLogic by 44.8% during the 3rd quarter. Adirondack Research & Management Inc. now owns 404,522 shares of the semiconductor company’s stock valued at $680,000 after buying an additional 125,222 shares in the last quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This report was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/01/19/quicklogic-quik-receives-buy-rating-from-roth-capital.html.

About QuickLogic

QuickLogic Corporation develops and markets semiconductor and software algorithm solutions. The Company’s solutions primarily target smartphones, wearable devices, tablets, and the Internet-of-Things (IoT). The Company is a fabless semiconductor provider of flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays (FPGAs).

Receive News & Ratings for QuickLogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuickLogic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply